The Fiscal Responsibility and Budget Management (FRBM) Act was enacted in which year in India?
2003
The Fiscal Responsibility and Budget Management (FRBM) Act was enacted by the Parliament of India in 2003, though its rules came into effect from 2004.
The Act aimed to institutionalise fiscal discipline by setting targets for reducing fiscal deficit and revenue deficit, ensuring inter-generational equity and long-term macroeconomic stability.
Hence, the FRBM Act was enacted in the year 2003.
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